Morning Platinum Market Report

Like silver, the platinum market remained above Monday's low during overnight trading. January platinum declined roughly $192 an ounce below the November highs before making a recovery, as some traders feel that platinum has priced in a return to recession in the Euro zone and is now waiting to see if the US will be able to avoid a return to recession. With Euro zone news improving slightly and expectations of positive results from the US Retail Sales data and from the FOMC meeting, other traders feel that platinum prices could hold onto early support through the end of today's session. A private survey of German economic sentiment during December was at -53.8, higher than expectations and may be an early sign of strong platinum demand from German automakers.